Mumbai (Maharashtra), Jan. 12 — Benchmark Indian equity indices closed in positive territory on Monday, ending a five-day losing streak amid a volatile session. The Nifty ended near 25,800 after an intraday recovery, while the Sensex gained 301.93 points, or 0.36%, to close at 83,878.17. The Nifty rose 106.95 points, or 0.42%, to 25,790.25.
Sectoral movements were mixed, with the metal index rising 2%, PSU banks up 0.7%, and FMCG up 0.6%, while capital goods, pharma, media, and realty indices fell between 0.5% and 1.5%.
Vinod Nair, Head of Research at Geojit Investments, noted that “the Indian market rebounded from the day’s lows as investor sentiment improved following favourable remarks on the trade deal by the U.S. Ambassador ahead of the next round of negotiations. Commodities, particularly metals, benefited from renewed buying amid supply constraints.” He added that value buying was evident in consumer and banking stocks, supported by expectations of stronger Q3 earnings and improving demand, while precious metals continued upward amid ongoing geopolitical tensions.
Shrikant Chouhan, Head of Equity Research at Kotak Securities, said, “The benchmark indices witnessed a sharp recovery from the lower levels. The Metal Index outperformed, rallying over 2%, whereas Realty and Media indices shed more than 1%.”
Rupak De, Senior Technical Analyst at LKP Securities, highlighted technical indicators pointing to a recovery: “Strong buying near the day’s lows led to a smart recovery. The Nifty has formed a piercing line pattern on the daily chart, suggesting a potential bullish reversal, while the hourly chart RSI has moved out of the oversold zone, indicating early signs of recovery.”
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